What the new global accounting standards mean for your business
15 days ago, 13:31
The new accounting rules requiring banks to take upfront charges against possible losses through the full life of a loan promise damaging pro-cyclicality. We are all going to be hearing a lot more this year about IFRS 9, requiring banks to recognise expected loan losses even before borrowers miss a single interest or principal repayment. This is a big change. Over the past few years, Kenyan banks have been preparing for the implementation of International Financial Reporting Standard 9, a new ac ...
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